Question

Perfectly competitive, unregulated markets with no externalities will provide the efficient level of Group of answer choices private goods. private goods, artificially scarce goods, and common property resources. private goods and artificially scarce goods. private goods, artificially scarce goods, common property resources, and public goods. canva

Answer 1

Answer: private goods

Explanation:

Private goods are referred to as the goods that are excludable and also possess the characteristics of rivalry. Such goods can only be consumed when people pay for them and those who don't pay will noy benefit from the goods.

The demand and supply of private goods will bring about an efficient level of output such that the demand will be equal to the supply. It should be noted that other goods may be faced with challenges like the externality problem, free rider problem etc.